Why Your Next RFP Needs AI (and a Strong Cup of Coffee)
If you have ever been in a meeting where someone brings up the RFP process and everyone cringes, then you know the feeling: it’s tedious, monotonous, and right when you think you’re through, you get hit with a pile of revisions. Let’s explore how AI is changing the RFP response process and how it can save you time and win more business.
Streamlining the RFP Process: Creating Order Out of Disorder
As a leader in the healthcare industry, it wasn’t uncommon for our team to spend 50+ hours on an RFP across the organization ( legal, compliance, sales, marketing, customer success, product and IT). By leveraging AI, we were able to reduce this very tedious painful process down to 2-3 hours.
- Proposal Summarization: Have a 50-page proposal? AI reads it for you and gives you the main points and deadlines in minutes.
- Data-Driven Insights: Based on prior RFP data, market research, and competitor analysis, AI can help develops proposals which aren’t merely effective, they win business.
- Predictive Analytics: AI doesn’t guess, it knows. With the help of historical data and market factors it determines the probability of your proposal’s success and assists in creating an effective plan.
Better Responses, Less Hassle
- Automated Responses: AI completes the standard sections of RFPs with the help of generated content that is based on prior history. Just imagine copy-pasting but on steroids.
- Content Generation: Does your content library collect dust these days? AI generates responses from the library in minutes and helps to make every proposal fresh and relevant.
- Personalization: Greeting everyone with the same old lines is so yesterday. AI goes a step further to personalize the proposals depending on each client’s requirements thus making you appear prepared.
Risk Management
AI enables you to identify and avoid risks and also avoid violating certain legal requirements. Your legal and compliance team are expensive resources, and their time can be reduced by leveraging past acceptable terms and conditions.
Teamwork Makes the Dream Work
- Centralized Data Management: Keep team members up to date with transparent and up to date progress on RFP status.
- Efficient Task Delegation: With AI, tasks can be assigned to the right people ensuring that the process does not get stuck at any particular stage and ensure no deadlines are missed.
At the end of the day, AI is not to outperform the human being and take his or her place; it is to enhance how we spend our time. It rushes through the parts that are monotonous, gives a professional touch to parts that are complicated and thus, leaving your team with enough time to strategize and get creative.
